Chaim Schwartz Purchases Jersey City Multifamily From Heba Bullock For $725,000
22 Storms Avenue
$725,000
$362/SF
Building Size
2,000 SF
Asset Type
MultiFamily
Closing
Nov 14, 2024
AI
A 4-unit multifamily property located at 22 Storms Avenue in Jersey City was sold for $725,000. The property covers a total area of 2,000 square feet, providing a price per unit of $181,250 and a price per square foot of $362.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $725,000
- Units: 4
- Square Footage: 2,000
- Price Per Unit: $181,250
- Price Per Square Foot: $362
- Buyer: Chaim Schwartz
- Seller: Heba Bullock
- Brokers: Yanni Marmarou & Griffin Westlin - Investment Property Realty Group (IPRG)
The deal involved an investor purchasing the vacant 4-unit property. For further details, reach out to [email protected].
Players
Jersey City MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
21.88%
Cash-on-Cash
-6.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93